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The next day, Chegg's stock price collapsed by 48% in response. [23] Chegg announced that it would launch a GPT-4 powered AI platform called Cheggmate later in May 2023. [ 23 ] By June, CheggMate was in testing mode, but wasn't expected to publicly launch until 2024.
Grammarly was founded in 2009 by Max Lytvyn, Alex Shevchenko, and Dmytro Lider. [4] The company initially offered a subscription-based product intended to help students improve their grammar and spelling. [5] That product was subsequently developed into a writing assistant that checks the grammar, spelling, and tone of a piece of writing. [5 ...
Chegg stock has lost nearly 70% over the last year and has been roughly cut in half in 2024. From its peak in 2021, the stock is down over 95%. Since the launch of ChatGPT in late 2022 the company ...
In the freemium business model, business tiers start with a "free" tier. Freemium, a portmanteau of the words "free" and "premium", is a pricing strategy by which a basic product or service is provided free of charge, but money (a premium) is charged for additional features, services, or virtual (online) or physical (offline) goods that expand the functionality of the free version of the software.
Chegg Tutors was founded in 2011 as InstaEDU and launched into public beta in May 2012. At that time, the company also announced that it had raised $1.1M in venture capital funding from The Social+Capital Partnership. [2] Two of the company's co-founders had previously run an in-home tutoring company called Cardinal Scholars.
Busuu was founded in May 2008 by Bernhard Niesner and Adrian Hilti. The company launched with a free version of its website and opened its first office in Madrid. In 2009, Premium membership was introduced to access to all features on the platform and in 2010, the first Busuu mobile app was launched. [7]
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